Tax practice

Rep. Michele Bachmann, R-Minn., called for cuts in corporate taxes and the elimination of capital gains and estate taxes in a speech last weekend as she campaigned for the Republican presidential nomination.

The Internal Revenue Service’s Criminal Investigation division began and completed a greater number of investigations of tax crimes last year as it continues to ramp up enforcement efforts.

The Internal Revenue Service has extended the due date until Sept. 9, 2011, for taxpayers with undisclosed foreign bank accounts to participate in its latest offshore voluntary disclosure initiative.

The IRS said its summer 2011 issue of the Statistics of Income Bulletin is now available.

IMGCAP(1)]As accountants and tax attorneys, we often find ourselves in conversation with our peers about the constitutionality of state taxation.

A new report from the Treasury Inspector General for Tax Administration concludes that the IRS needs to improve the timeliness and accuracy of its response to taxpayer complaints about math error adjustments.

Former chairman and chief executive of American Express Harvey Golub took to the opinion pages of Monday’s Wall Street Journal in response to billionaire Warren Buffett’s “Stop Coddling the Super-Rich” New York Times op-ed.

The Internal Revenue Service provided guidance Friday on the only ways to establish prima facie evidence of delivery of documents that have a filing deadline prescribed by the tax laws when there is not direct proof of the actual delivery.

The American Institute of CPAs told the Internal Revenue Service that it should avoid requiring pre-approval of continuing education courses as part of its tax preparer regulation efforts.

The Securities and Exchange Commission has been asked to respond to allegations that it destroyed documents relating to thousands of investigations.

The Internal Revenue Service plans to beef up its tracking of credit and debit card purchases of merchandise to spot discrepancies with the income claimed on tax returns.

The Internal Revenue Service said Thursday that interest rates will decrease in the fourth quarter for tax underpayments and overpayments by a full percentage point.

IMGCAP(1)][IMGCAP(2)]By doing what they do best—taking care of their clients—international accounting firms may be exposing themselves to multiple tax claims on their own account.

The Internal Revenue Service had to cope with a great many changes in tax laws last year that put its growing workforce under extra pressure, according to a new report.

President Obama has been pushing to extend the 2-percentage-point cut in the payroll tax through next year, but this is one tax cut that his opponents in Congress may not agree to allow.

A California tax preparer could be sentenced to up to 143 years in prison after she was charged with preparing false tax returns, including one that claimed 19 dependents had been born to her on the same day.

An attorney and CPA who operated his own law firm in Morristown, N.J., has been sentenced to 18 months in prison for filing a false income tax return.

Berkshire Hathaway chairman and CEO Warren Buffett said in an editorial Monday that those making over $1 million and $10 million per year should be taxed at higher rates.

The Treasury Department proposed regulations Friday for a Premium Tax Credit for buying health insurance as part of the effort to implement the health care reform law.

Sen. Chuck Grassley, R-Iowa, has written a letter to President Obama disagreeing with the president’s definition of the term “tax reform.”